Sirenachayoc Group

Update on Sirenachayoc Group

These members belong to the communal bank Sirenachayoc, which is a bank located in the district of Cusco, within the province of Cusco and the department of Cusco.

Jackeline Julieta is one of the members. She is 31 years old, married, and has two children. Her business is a multiservice store where she has a copy machine and computers, and also sells stationery supplies such as pencils, erasers, poster paint, card stock, and other items. She is open for sale from 8:00 am to 9:00 pm. She used to live in the city of Arequipa and worked for an advertising company. She has had her own business for two years, and her dream is to have her own advertising company. She is requesting the loan in order to purchase card stock, poster paint, pencils, and paper for her copy machine. The members who appear in small photos along with the group picture had their photos taken later because they could not attend the meeting due to work reasons. The member with his face covered does not belong to the communal bank anymore.

The other members work in different businesses: carpentry, transportation, raising Guinea pigs, and selling vegetables.

Member Jackeline wants to thank everyone who is a part of this dream and promises to comply with her payment terms.

Previous Loan Details

Jacqueline Julieta, 27, is the member. She has a spouse and two children. She works in her Internet access booth business and also sells telephone recharge services via Internet. She works from 8am until 9pm. Through the business she’s able to support her children. She wants to equip and…
More from Sirenachayoc Group's previous loan »

Additional Information

Important Information

About Asociación Arariwa
Asociación Arariwa is a large non-governmental organization that started offering microcredit in 1994 to improve the quality of life, skills and equity of the population in the rural Cusco region of Peru. Arariwa serves the southern Andean provinces of Peru, and is distinguished by its efforts to reach the very poor, who often live in isolated rural areas. Arariwa fosters village banking, supports savings accounts, promotes access to education, and empowers women entrepreneurs (who make up 78% of its borrowers).

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.